(Updates with closing stock prices.)
Oct. 26 (Bloomberg) -- Walt Disney Co. entered into a licensing agreement with Corus Entertainment Inc. to create a new Canadian TV network focused on young adult viewers.
ABC Spark will go on the air in early 2012 targeting 10 million viewers ages 15 to 34, the companies said today in an e- mailed statement. Financial details weren’t provided.
“Bridging the gap between our kids and women’s networks, ABC Spark will be a national service with compelling programming directed at the fast-expanding millennial generation,” Doug Murphy, president of Corus Television, said in the statement.
The 24-hour network will use programming from Burbank, California-based Disney’s ABC family cable channel, including “Switched at Birth” and “The Secret Life of the American Teenager,” according to the statement.
Disney gained 1.6 percent to $35.05 at the close in New York. Corus, based in Calgary, fell 0.5 percent to C$19.59 in Toronto.
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